Business Wire

Travelex Bank Selects ThetaRay for Transaction Monitoring and Sanctions Screening

Share

ThetaRay, a leading provider of AI-powered transaction monitoring technology, today announced that Travelex Bank, Brazil’s largest foreign exchange specialist, will implement ThetaRay’s SONAR anti-money laundering (AML) SaaS solution for both domestic and international transaction monitoring, as well as real-time sanctions screening for its international payments.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220706005020/en/

To view this piece of content from mms.businesswire.com, please give your consent at the top of this page.

Travelex Exchange Service (Photo: Business Wire)

Travelex Bank is one of the world’s leading specialist providers of foreign exchange, offering a range of international money transfer products including import/export, remittances and mass payments. SONAR will empower Travelex Bank to detect attempts to launder money or circumvent financial sanctions through its system, bringing trust and confidence to all parties in the global payments ecosystem. Additionally, SONAR will allow the company to roll out new products and services efficiently and in compliance with Brazil’s increasingly stringent regulations.

“Our responsibility is to simplify our customers' access to international money. ThetaRay’s SONAR will enable us to expand our product services portfolio and improve customer service while improving our overall AML operations,” said Célia Pizzi, Chief Compliance Officer, of Travelex Bank. “ThetaRay is the only provider we’ve found that meets our high business standards by providing both AI-based transaction monitoring and sanctions screening within one platform. SONAR will provide higher efficiency and secure risk coverage, enabling new businesses and lines of revenue.”

“Travelex Bank represents a new generation of global institutions that is readying its money transfer and payment infrastructure for changing conditions. Travelex is a provider that looks to the future and prioritizes trust, confidence, and quality,” said Mark Gazit, CEO of ThetaRay. “We are very proud and excited to build this partnership with Travelex that will help fuel growth of the global economy.”

SONAR is based on an advanced form of AI called “artificial intelligence intuition” to make better decisions with no bias or thresholds, offering fintechs and banks a risk-based approach to effectively identify truly suspicious cases and create a full picture of customer identities including across complex, cross-border transaction paths. This enables the rapid discovery of both known and unknown money laundering threats, with a peerless 95% detection rate and 99% reduction in false positives compared to rules-based solutions.

About Travelex Bank

Travelex is the world's largest exchange business specialist, with a presence in more than 20 countries. In Brazil, the Group consists of the brokerage Travelex Confidence and Travelex Bank, the first exclusive bank for foreign exchange transactions regulated by the Banco Central do Brasil (Bacen). Among the operations carried out by the bank, there are international remittances, imports, exports, crypto exchange transactions, registration services, banknotes, mass payments, among many others.

For more information, visit www.travelexbank.com.br

About ThetaRay

ThetaRay's AI-powered SONAR transaction monitoring solution, based on "artificial intelligence intuition", allows banks and fintechs to expand their business opportunities and grow revenues through trusted and reliable cross-border payments. The groundbreaking solution also improves customer satisfaction, reduces compliance costs, and increases risk coverage.

For more information, visit www.thetaray.com.

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

Contact information

Media:
Nina Gilbert, ThetaRay
Nina.gilbert@thetaray.com

Luciana Natali Vasconcelos, Travelex Bank
lvasconcelos@travelexbank.com.br

About Business Wire

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982http://www.businesswire.co.uk

(c) 2018 Business Wire, Inc., All rights reserved.

Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

Pharma Tech Holdings SA Obtains a Capital Commitment Agreement of CHF 30 million from Global Investor LDA Capital8.8.2022 10:50:00 CEST | Press release

Pharma Tech Holding SA (“PTH”) announced today it has secured a CHF 30 million investment to support its portfolio investments from LDA Capital Ltd, a global investment group with expertise in cross border transactions including the agriculture, Agri-tech, and CBD industries. Established in 2019, PTH is a Swiss based holding company, which invests into innovative businesses with high technological value and scalability potential, mainly in Switzerland and Europe, with a focus on the health-tech, Agri-tech, and functional food. This investment will allow PTH to mainly invest and support its portfolio company Blue Sky Swisse SA (“BSS”) a JV between PTH and listed company IGEA PHARMA NV (“Igea”), IGPH - ISIN NL0012768675. BSS focuses on the extraction of natural active principles from vegetable matrices, vegetable waste, and renewable sources to deliver B2B products under the form of CBD oil, Terpenes and Waxes. The factory located in Biasca, will be built to the state of art of extractio

Smile Hair Clinic Named 'Hair Transplant Clinic of the Year'8.8.2022 09:30:00 CEST | Press release

The Smile Hair Clinic took two awards in the ‘Highest Quality Hair Transplantation Clinic’, and the 'Hair Clinic of the Year' categories at the 13th Annual Quality of Magazine Klass Award Ceremony. Dr. Gokay Bilgin and Dr. Mehmet Erdoğan founded the Smile Hair Clinic in 2018 and have since overseen its successful and award-winning growth. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220808005053/en/ Smile Hair Clinic named 'Hair Transplant Clinic of the Year' (Graphic: Business Wire) Award Ceremony: https://www.youtube.com/watch?v=0TvUp2FxRII Accepting the award Dr. Bilgin said, "Our country holds an important position in medicine globally; patients from all over the world come to Turkey for treatment." Award winners Dr. Bilgin and Dr. Erdoğan have many years of experience in follicular unit extraction (FUE) techniques. Located on Istanbul’s Anatolian neighborhood of Ataşehir, the clinic has more than 100 trained personnel

Teckro Partners with Reforestation Non-profit “One Tree Planted”5.8.2022 15:04:00 CEST | Press release

Teckro, creator of the only digitally interconnected clinical trial platform for real-time decision-making at the point of patient care, today announced a partnership with One Tree Planted to support native reforestation in Ireland. Teckro will plant trees quarterly to celebrate new clinical research sites and studies live on the Teckro platform. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220805005165/en/ “Working with One Tree Planted aligns with Teckro’s ethos of making an impact in the world,” said Gary Hughes, co-founder and chief executive officer. “Digitally interconnected clinical trials are good for the environment with less paper and a reduced need for in-person monitoring visits. This partnership enables us to plant trees in recognition of the sustainable gains achieved with our platform.” Planting trees is one of the best ways to combat the damaging effects of climate change. Trees help clean the air we breath

SES to Participate in Upcoming Investor Conferences5.8.2022 13:45:00 CEST | Press release

SES AI Corporation (NYSE: SES), a global leader in the development and manufacturing of high-performance lithium-metal (Li-Metal) rechargeable batteries for electric vehicles (EVs) and other applications, today announced that management will participate and host one-on-one meetings at the following investor conferences. J.P. Morgan Auto Conference Date: August 9, 2022 Location: New York City Jefferies Industrials Conference Date: August 10, 2022 Location: New York City Baird Newly Public Company Virtual Access Day Date: August 17, 2022 Location: Virtual Piper Sandler Energy Transition Leaders Summit Date: August 18, 2022 Location: Aspen, CO Cowen Global Transportation & Sustainable Mobility Conference Date: September 8, 2022 Location: Virtual RBC Capital Markets Global Industrials Conference Date: September 12, 2022 Location: Las Vegas, NV About SES SES is a global leader in development and production of high-performance Li-Metal rechargeable batteries for electric vehicles (EVs) and o

Ipsen Extends Expiration Date of Tender Offer for Epizyme, Inc. to 11 August 20225.8.2022 07:00:00 CEST | Press release

Regulatory News: Ipsen S.A. (Euronext: IPN; ADR: IPSEY) today announced that Hibernia Merger Sub, Inc. (Purchaser), its wholly owned indirect subsidiary, has extended the expiration time for the previously announced tender offer to purchase all of the issued and outstanding shares of common stock (the Shares) of Epizyme, Inc. (NASDAQ: EPZM) (Epizyme) at a price of $1.45 per share, to the holder in cash, without interest and less applicable withholding taxes, plus one non-transferable contingent value right (CVR) per Share, until 11:59 p.m., Eastern time on Thursday 11 August 2022, unless further extended. The tender offer was previously scheduled to expire at one minute after 11:59 p.m., Eastern time, on Monday 8 August 2022. All other terms and conditions of the tender offer remain unchanged. Each CVR represents the right to receive one or more payments in cash, of up to $1.00 per CVR, contingent upon the achievement of certain milestones upon the terms and subject to the conditions d